Bitcoin Blog a1

Saturday, September 30, 2017

Old news on BTC-e

Looks like once again, I have some old news I never published. So check it out now, months later!

BTC-e has been raided.

Well it looks like another bitcoin exchange is shutting down. This is different though, because it is for money laundering. There are lots of allegations going around. Some people are saying stolen funds from Mt. Gox ended up there. Others say 80% of Bitcoin ransom (payments to Ransomware) go through BTC-e. Well the U.S. government figured enough is enough and has shut the exchange down. The exchange has promised everyone that they will be paid.

This has perhaps put some people on edge, as they are worried another exchange will shut down. Many people openly worry about polo, which was offline a few hours earlier this week.

However, perhaps this worry is unwarranted. At least there is a reason it might be less than it was a few days ago. With the BCC split, many users took their crypto off of exchanges. This, in a way, audited these exchanges to see if they really have enough crypto to cover an increase in demand, and it seems like they passed. So perhaps things are a tiny bit safer than before.

Here you can even see the still seized website. Also here is another update by coindesk.

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